CURRICULUM VITAE JOSEPH E. STIGLITZ

Transcription

1 CURRICULUM VITAE JOSEPH E. STIGLITZ Born February 9 th, 1943 Address Uris Hall, Room 814 Columbia University 3022 Broadway New York, NY Phone: (212) Fax: (212) jes322@columbia.edu Current Position Professor of Economics and Finance, Columbia University Graduate School of Business, Department of Economics, and School of International and Public Affairs Previous Positions Professor of Economics and Senior Fellow, Hoover Institution, Stanford University, Stern Visiting Professor, Columbia University, 2000 Senior Vice President and Chief Economist, World Bank, Senior Fellow, Brookings Institution, 2000 Chairman, Council of Economic Advisers (Member of Cabinet), Member, Council of Economic Advisers, Research Associate, National Bureau of Economic Research Senior Fellow, Institute for Policy Reform Professor of Economics, Princeton University, Drummond Professor of Political Economy, Oxford University, Oskar Morgenstern Distinguished Fellow and Visiting Professor, Institute for Advanced Studies and Mathematica, Professor of Economics, Stanford University, Visiting Fellow, St. Catherine's College, Oxford, Professor of Economics, Cowles Foundation and Department of Economics, Yale University, Senior Research Fellow, Social Science Division, Institute for Development Studies, University College, Nairobi (under Rockefeller Foundation Grant), Associate Professor, Cowles Foundation, Assistant Professor, Cowles Foundation, Tapp Research Fellow, Gonville and Caius College, Cambridge, Visiting Professor, Department of Economics, University of Canterbury, Christchurch, New Zealand, June-August,

2 Assistant Professor of Economics, M.I.T., Education B.A. Amherst College, 1964 Ph.D. in Economics, M.I.T., Unearned Degrees M.A., Cambridge University, 1970 M.A., Oxford, 1976 Honorary doctorates D.H.L., Amherst College, 1974 University of Leuven, 1996 Ben Gurion University, 1997 University of Namur, March 2000 Bucharest University, December 1999 Technical University, Lisbon, June 2000 Northwestern University, Doctor of Laws, June 2000 New School University, February 2001 Bard College, June 2001 University of Toronto, June 2001 Charles University, Prague, June 2001 Glasgow University, July 2001 Vienna, January 2001 Pomona College, May 2001 University of Barcelona, May 2001 University of Buenos Aires, November 2001 University of Andes, October 2001 University of Macau, March 2002 To be awarded University of Ancona Athens University Sofia University St. Kliment Ohridski Fellowships and Honors National Science Foundation, Fulbright Fellowship, Social Science Research Council Faculty Fellowship, Guggenheim Fellowship, Elected Fellow of the Econometric Society,

3 John Bates Clark Award, American Economic Association, 1979 Fellow, American Academy of Arts and Sciences, 1983 Fellow, National Academy of Science, 1988 International Prize of the Academia Lincei, 1988 UAP Scientific Prize, Paris, France, 1989 Corresponding Fellow of the British Academy, 1993 Rechtenwald Prize, Germany, 1998 Fellow, American Philosophical Society, 1998 Nobel Prize in Economics, 2001 International Positions, Boards, etc. (selected) Executive Director and Co-founder, Initiative for Policy Dialogue International Panel on Climate Control (Steering Committee, Working Party 3) Chairman, Economic Policy Committee, OECD Member of the Board, Resources for the Future Member of the Board of Trustees, Amherst College Trustee, Folger Library, Washington Member, Executive Supervisory Committee, CERGE-EI, Prague Executive Board, Economic Research Forum, Cairo International Advisory Board, Korea Financial Service Commission U.S./Israel Joint Economic Decision Group (JEDG), Member, Mid-east Economic Peace Forum, Amman, 1995 Chair, U. S. Delegation, OECD Ministerial, 1996 Member, U.S. Delegation, G-7 Jobs Summit, France, 1996 Chair, U.S. Delegation, G-7 and Developing Country Telecommunications Conference, South Africa, 1996 World Bank Delegate, G-22 Headed, U.S. Delegations to India, China, Russia World Bank Missions to Ghana, Coite d Ivoire, South Africa, Tanzania, Kenya, Uganda, India, China (2), Bangladesh, Malaysia, Thailand, Philippines, Korea, Indonesia, Russia, Czech Republic, Romania, Columbia, Argentina, Brazil, Ethiopia (2), San Salvador, Costa Rica, Ecuador, Sri Lanka, Columbia, Morocco Chairman of the Board, Brookdale Consulting Ford Foundation Energy Policy Study, 1973 Department of Labor (Pensions and Labor Turnover), 1974 Department of Interior (Offshore Oil Leasing Programs), 1975 Federal Energy Administration (Intertemporal Biases in Market Allocation of Natural Resources), World Bank O.E.C.D. Electrical Power Research Institute Office of Fair Trading (U.K.) Consumer Protection Legislation 3

4 Bell Communications Research Bell Labs U.S. State Department - AID Inter-American Development Bank State of Louisiana (Attorney General) State of Texas (Attorney General and Governor's Office) Office of Tax Analysis, U.S. Treasury Federal Reserve Board Office of Technology Assessment State of Alaska Seneca Indian Nation Micronomics Department of Justice Senior Advisor, Sebago Associates Selected Invited Lectures Far Eastern Meetings of the Econometric Society, Tokyo, 1970 Association of University Teachers of Economics, Warwick, 1974 Westfalich Academy of Science Fifth Annual Lecture of the Geneva Association, delivered at Zurich, March 1983 David Kindall Lecture, University of Illinois, 1985 Frank W. Paish Lecture, Association of University Teachers of Economics, Bath, United Kingdom, 1985 Journal of Money, Banking and Credit Lecture, Western Economic Association, Las Vegas, 1985 Invited Plenary Session Lecture, Meetings of the Sociedade Brasileira de Econometria, Belem, Brazil, December 1986 Upjohn Lecture, Western Michigan University, 1986 Johansen Lectures, Oslo, 1986 Frontiers of Economics Lecture, World Bank, 1986 Harry Lyman Hooker Distinguished Visiting Professors Series, McMaster University, 1986 Shepherd Lecture, State University of Iowa, 1986 Shell Lecture, City University, London, 1986 Rand Chair Distinguished Speaker Series, SUNY-Buffalo, 1987 Fisher-Schultz Lecture, European Meetings, Econometric Society, Copenhagen, 1987 Jacob Marschak Lecture, Far Eastern Meetings, Econometric Society, Tokyo, 1987 Invited Plenary Lecture, American Accounting Association, Cincinnati, 1987 Central Bank of Uruguay, Annual Conference for South American Economists, 1988 Argentina Economic Association, 1988 NÖG Lecture, Austrian Economic Association, 1988 John Crawford Lecture, Economic Congress of Australia (Joint Meeting of Economic Society, The Econometric Society, The Australian Agricultural Society and The Economic History Society of Australia and New Zealand, Canberra), 1988 Stevenson Lectureship, University of Glasgow, Scotland, December

5 Plenary Session Latin American Meeting of the Econometric Society, Santiago, Chile, August Musgrave Lecture, University of California, Santa Cruz, March 1990 AT&T Lecture Series, Notre Dame University, April Wicksell Lectures, University of Stockholm, May 1990 Institute of Public Administration Annual Conference, Dublin, December 1990 IPR-IRIS Conference, Prague, March 1991 Caffee Lecture on Reformulation of Monetary Theory, Rome, April 1991 Lindhal Lectures on Fiscal and Monetary Policy, Uppsala, Sweden, April 1991 Irish Economic Association Annual Conference, Keynote Lecture, Dublin, May 1991 Federal Reserve Bank of Cleveland, May 1991 Villa Mondrage International Economic Seminar, Rome, June 1991 Far Eastern Meeting of the Econometric Society, Seoul, June 1991 Korea Development Institute, Seoul, June 1991 National Association of Business Economists, Los Angeles, September 1991 Marshall Lecture, European Economic Association Annual Meeting, Cambridge, UK, September 1991 NBER/CEPR Conference on Unemployment and Wage Determination, Boston, October 1991 NBER Taxation Program, Cambridge, MA, October 1991 Institute for Policy Reform 1991 AID Economists' Conference, Raleigh-Durham, November 1991 United Nations Conference on Trade and Development, Geneva, December, 1991 CEPR Conference on Finance and Development in Europe, Santiago, Spain, December 1991 Schumpeter Lecture, Kyoto, 1992 Mattioli Lectures, Milan, 1999 Schwartz Lecture, Northwestern, 1999 McKenzie Lecture, Rochester, 1999 Prebisch Lecture, Geneva (UNCTAD), 1998 Wider Lecture, Helsinki, 1997 EIB Lecture, Florence, 1997 Marshall Lecture, Cambridge, 1996 Papandreou Lecture, Athens, Indian Development Bank 50 th Jubilee Lecture, 1998 National Economic Research Institute Jubilee Lecture, 1999 Annual Lecture, Government Economists Association, Chicago, 1998 Oxford Amnesty Lecture, 1999 Bruno Lecture, Beunos Aires, 1999 (Keynote speaker, invited lecture, at national or regional economic meetings in Bogota, Montivedeo, Colombo, Manila, Seoul, Tokyo, Bangkok, Marrakech, Cairo, Kampala, Nairobi, Dacca, Kuala Lampur, San Salvador, San Jose (Costa Rica)) World Bank Seminar on Economic Growth and Valuation of the Environment, Washington, D.C., 2001 Analysis Economic/ Financial Conference, Milan, 2002 World Knowledge Forum, Seoul, 2002 Cercle de Economistes, Aix en Provence,

6 Editing Editor, Journal of Economic Perspectives Editorial Board, World Bank Economic Review Board of Consulting Editors, Economic Notes (Monte dei Paschi Di Siena, Italy) Member, Scientific Committee, Assicurazioni, Rome, Italy Editorial Board, The Geneva Papers on Risk and Insurance Theory Editorial Board, Revista de Econometrica Co-editor with H. Uzawa, Readings in Modern Theory of Economic Growth, M.I.T. Press, 1969 Editor, Collected Scientific Papers of P.A. Samuelson, M.I.T. Press, 1965; Japanese language edition, 1991 General Editor, Econometric Society Reprint Series Associate Editor, Journal of Economic Theory, Co-editor, Journal of Public Economics, American Editor, Review of Economic Studies, American Editor, American Economic Review, Associate Editor, Energy Economics Associate Editor, Managerial and Decision Economics Editorial Board, The Review of Industrial Organization Other Activities International Advisory Board, Open Society Foundation Committee on Graduate Education in Economics, American Economic Association Member, M.I.T. Corporation Visiting Committee in Economics, 197l-1983 Member, Committee on Urban Public Economics, 1973 Secretary, Econometric Society, Council, Econometric Society, Steering Committee, Conference on Mathematical Economics, NBER Member, Economics Panel, National Science Foundation, Executive Committee, American Economic Association, ; ex-officio, 1985 Vice-President, American Economic Association, 1985 Special Review Panel, NSF, 1986 Visiting Committee, University of California, Department of Economics, 1989 Member, Nikkei International Academy, 1991 Member, Center for Economic Studies,

7 Articles 1966 Investment, Income, and Wages, (abstract), with G. A. Akerlof, Econometrica, 34(5), Supplementary Issue, 1966, p (Presented at December meetings of the Econometric Society, New York.) 1967 Allocation of Investment in a Dynamic Economy, with K. Shell, Quarterly Journal of Economics, 81, November 1967, pp A Two-Sector, Two Class Model of Economic Growth, Review of Economic Studies, 34, April 1967, pp A Note on Technical Choice Under Full Employment in a Socialist Economy, Economic Journal, 78(311), September 1968, pp Output, Employment and Wages in the Short Run, with R. Solow, Quarterly Journal of Economics, 82, November 1968, pp Allocation of Heterogeneous Capital Goods in a Two Sector Economy, International Economic Review, 10, October 1969, pp (Presented at the 1965 Chicago Symposium on the Theory of Economic Growth.) Behavior Toward Risk With Many Commodities, Econometrica, 37(4), October 1969, pp Capital Gains, Income and Savings, with K. Shell and M. Sidrauski, Review of Economic Studies, 36, January 1969, pp Capital, Wages and Structural Unemployment, with George A. Akerlof, Economic Journal, 79(314), June, 1969, pp Distribution of Income and Wealth Among Individuals, Econometrica, 37(3), July 1969, pp (Presented at the December 1966 meetings of the Econometric Society, San Francisco.) The Effects of Income, Wealth and Capital Gains Taxation on Risk-Taking, Quarterly Journal of Economics, 83(2), May 1969, pp The Implications of Alternative Saving and Expectations Hypotheses for Choices of Technique and Patterns of Growth, with D. Cass, Journal of Political Economy, 77, July-August 1969, pp (Presented at the 1967 Chicago Symposium on the Theory of Economic Growth.) A New View of Technological Change, with A. Atkinson, Economic Journal, 79(315), September 1969, pp A Re-Examination of the Modigliani-Miller Theorem, American Economic Review, 59(5), December 1969, pp (Presented at the 1967 meetings of the Econometric Society, Washington, D.C.) 7

8 Rural-Urban Migration, Surplus Labor and the Relationship Between Urban and Rural Wages, East African Economic Review, 1-2, December 1969, pp Theory of Innovation: Discussion, with Evsey Domar, American Economic Review, AEA Papers and Proceedings, 59(2), May 1969, pp A Consumption Oriented Theory of the Demand for Financial Assets and the Term Structure of Interest Rates, Review of Economic Studies, 37(3), July 1970, pp (Presented at the August 1968 meetings of the Econometric Society, Boulder, Colorado.) Factor Price Equalization in a Dynamic Economy, Journal of Political Economy, 78(3), May-June 1970, pp Increasing Risk: I. A Definition, with M. Rothschild, Journal of Economic Theory, 2(3), September 1970, pp Subsequently published in Foundations of Insurance Economics, G. Dionne and S. Harrington (eds.), Kluwer Academic Publishers, Non-Substitution Theorems with Durable Capital Goods, Review of Economic Studies, 37(4), October 1970, pp Reply to Mrs. Robinson on the Choice of Technique, Economic Journal, 80(318), June 1970, pp The Structure of Investor Preferences and Asset Returns, and Separability in Portfolio Allocation: A Contribution to the Pure Theory of Mutual Funds, with D. Cass, Journal of Economic Theory, 1, June 1970, pp Differential Taxation, Public Goods, and Economic Efficiency, with P. Dasgupta, Review of Economic Studies, 38(2), April 1971, pp Increasing Risk: II. Its Economic Consequences, with M. Rothschild, Journal of Economic Theory, 5(1), March 1971, pp Addendum to Increasing Risk: I. A Definition, with M. Rothschild, Journal of Economic Theory, 5(2), October 1972, p Four Lectures on Portfolio Allocation with Many Risky Assets, in Mathematical Methods in Investment and Finance, Szege-Shell (eds.), Amsterdam: North-Holland Publishing, 1972, pp On Optimal Taxation and Public Production, with P. Dasgupta, Review of Economic Studies, 39(1), January 1972, pp On the Optimality of the Stock Market Allocation of Investment, Quarterly Journal of Economics, 86(1), February 1972, pp (Presented to the Far Eastern Meetings of the Econometric Society, June 1970, Tokyo, Japan.) Risk Aversion and Wealth Effects on Portfolios with Many Assets, with D. Cass, Review of Economic Studies, 39(3), July 1972, pp

9 Some Aspects of the Pure Theory of Corporate Finance: Bankruptcies and Take-Overs, Bell Journal of Economist, 3(2), Autumn 1972, pp The Structure of Indirect Taxation and Economic Efficiency, with A. Atkinson, Journal of Public Economics, 1, March 1972, pp Taxation, Risk Taking, and the Allocation of Investment in a Competitive Economy, in Studies in the Theory of Capital Markets, M. Jensen (ed.), New York: Praeger, 1972, pp (Proceedings of a conference at the University of Rochester, August 1969.) 1973 Approaches to the Economics of Discrimination, American Economic Review, 62(2), May 1973, pp Reprinted in Economics and Discrimination, W. Darity and C. Boshamer (eds.), Edward Elgar Publishing, The Badly Behaved Economy with the Well Behaved Production Function, in Models of Economic Growth, J. Mirrlees (ed.), MacMillan Publishing Company, 1973, pp (Presented at the International Economic Association Conference on Growth Theory, Jerusalem, 1970.) Education and Inequality, Annals of the American Academy of Political and Social Sciences, 409, September 1973, pp Recurrence of Techniques in a Dynamic Economy, in Models of Economic Growth, J. Mirrlees (ed.), MacMillan, 1973, pp Some Further Results on the Measurement of Inequality, with M. Rothschild, Journal of Economic Theory, 6(2), April 1973, pp Taxation, Corporate Financial Policy and the Cost of Capital, Journal of Public Economics, 2, February 1973, pp (Subsequently published in Modern Public Finance, 1, International Library of Critical Writings in Economics, No. 15., A. Atkinson (ed.), Elgar, 1991, pp ) 1974 Alternative Theories of Wage Determination and Unemployment in L.D.C. s: The Labor Turnover Model, Quarterly Journal of Economics, 88(2), May 1974, pp Subsequently published in Development Economics, 1, D. Lal (ed.), Elgar, 1992, pp Benefit-Cost Analysis and Trade Policies, with P. Dasgupta, Journal of Political Economy, 82(1), January-February 1974, pp (Presented to Conference on Project Evaluation, Nairobi, July, 1971.) The Cambridge-Cambridge Controversy in the Theory of Capital; A View From New Haven: A Review Article, Journal of Political Economy, 82(4), July-August 1974, pp Demand for Education in Public and Private School Systems, Journal of Public Economics, 2, November 1974, pp Growth With Exhaustible Natural Resources: Efficient and Optimal Growth Paths, Review of Economic Studies, 41, Symposium on the Economics of Exhaustible Resources, March 1974, pp Growth With Exhaustible Resources: The Competitive Economy, Review of Economic Studies, 41, Symposium on the Economics of Exhaustible Resources, March 1974, pp

10 Incentives and Risk Sharing in Sharecropping, Review of Economic Studies, 41(2), April 1974, pp Increases in Risk and in Risk Aversion, with P. Diamond, Journal of Economic Theory, 8(3), July 1974, pp (Presented at a Conference on Decision Rules and Uncertainty, Iowa City, May 1972.) On the Irrelevance of Corporate Financial Policy, American Economic Review, 64(6), December 1974, pp (Presented at a conference in Hakone, Japan, 1970.) Theories of Discrimination and Economic Policy, in Patterns of Racial Discrimination, G. von Furstenberg, et al. (eds.), D.C. Heath and Company (Lexington Books), 1974, pp Discussion of The Maryland Interindustry Forecasting Model by Clopper Almon, The Brookings Model: Perspective and Recent Developments, Gary Fromm and Lawrenc R. Klein (eds.), North- Holland Publishing Company, 1975, pp The Efficiency of Market Prices in Long Run Allocations in the Oil Industry, in Studies in Energy Tax Policy, G. Brannon (ed.), Cambridge: Ballinger Publishing, 1975, pp (Report written for the Ford Foundation Energy Policy Project, August 1973.) Incentives, Risk and Information: Notes Toward a Theory of Hierarchy, Bell Journal of Economics, 6(2), Autumn 1975, pp (Presented at Berlin Symposium on Planning, August 1973.) Information and Economic Analysis, in Current Economic Problems, J.M. Parkin and A.R. Nobay (eds.), Cambridge: Cambridge University Press, pp (Proceedings of the Association of University Teachers of Economics, Manchester, England, April 1974.) Reply to Mr. Stapleton on Some Aspects of the Pure Theory of Corporate Finance: Bankruptcies and Take-Overs, Bell Journal of Economics, 6(2), Autumn 1975, pp The Theory of Screening, Education and the Distribution of Income, American Economic Review, 65(3), June 1975, pp The Corporation Tax, Journal of Public Economics, 5, April-May 1976, pp The Design of Tax Structure: Direct Versus Indirect Taxation, with A. Atkinson, Journal of Public Economics, 6, July-August 1976, pp Subsequently published in Modern Public Finance, 2, International Library of Critical Writings in Economics, No. 15, A. Atkinson (ed.), Elgar, 1991, pp The Efficiency Wage Hypothesis, Surplus Labor and the Distribution of Income in L.D.C. s, Oxford Economic Papers, 28(2), July 1976, pp Equilibrium in Competitive Insurance Markets: An Essay on the Economics of Imperfect Information, with M. Rothschild, Quarterly Journal of Economics, 90(4), November 1976, pp Subsequently reprinted in Industrial Economics, O.E. Williamson (ed.), Edward Elgar, 1990, pp ; in Foundations of Insurance Economics, G. Dionne and S. Harrington (eds.), Kluwer Academic Publishers, 1992; and in Economic Theory and the Welfare State, Nicholas Barr (ed.), Cheltenham, UK: Edward Elgar,

11 Estate Taxes, Growth and Redistribution, in Essays in Honor of W. Vickrey, R. Grieson (ed.), Lexington: Lexington Publishing Company, 1976, pp Information and Competitive Price Systems, with S. Grossman, American Economic Review, 66(2), May 1976, pp Monopoly and the Rate of Extraction of Exhaustible Resources, American Economic Review, 66(4), September 1976, pp Reprinted in The Economics of Exhaustible Resources, G. Heal (ed.), Brookfield, VT: Edward Elgar, 1993, pp Notes on Estate Taxes, Redistribution, and the Concept of Balanced Growth Path Incidence, Journal of Political Economy, 86(2), part 2, pp (Paper presented at NBER Conference on Taxation, Stanford University, January 1976.) Sharecropping: Risk Sharing and the Importance of Imperfect Information, with D. Newbery, in Risk, Uncertainty and Agricultural Development, J.A. Roumasset, et al. (eds.), Southeast Asian Regional Center for Graduate Study and Research in Agriculture (SEARCA) and Agricultural Development Council, 1979, pp (Originally presented at a conference in Mexico City, March 1976.) 1977 Bargains and Ripoffs: A Model of Monopolistically Competitive Price Dispersions, with S. Salop, Review of Economic Studies, 44(3), October 1977, pp Reprinted in The Economics of Information, S.A. Lippman and D.K. Levine (eds.), Edward Elgar, 1995, pp Monopolistic Competition and Optimum Product Diversity, with A. Dixit, American Economic Review, 67(3), June 1977, pp Republished in Microeconomics: Theoretical and Applied, 2, R. Kuenne (ed.), Aldershot, UK: Elgar, 1991, pp Monopoly, Non-Linear Pricing and Imperfect Information: The Insurance Market, Review of Economic Studies, 44(3), October 1977, pp On Value Maximization and Alternative Objectives of the Firm, with S. Grossman, Journal of Finance, 32(2), May 1977, pp Some Further Remarks on Cost-Benefit Analysis, in Social and Economic Dimensions of Project Evaluation, Schwartz and R. Berney (eds.), Inter-American Development Bank, 1977, pp (Proceedings of the Symposium on Cost-Benefit Analysis, IDB, Washington, March 1973.) Some Lessons from the New Public Finance, with M. Boskin, American Economic Review, 67(1), February 1977, pp Symposium on the Economics of Information: Introduction, Review of Economic Studies, 44(3), October 1977, pp Tariffs Versus Quotas As Revenue Raising Devices Under Uncertainty, with P. Dasgupta, American Economic Review, 67(5), December 1977, pp Theory of Local Public Goods, in The Economics of Public Services, M.S. Feldstein and R.P. Inman (eds.), MacMillan Publishing Company, 1977, pp (Paper presented to IEA Conference, Turin, 1974.) 11

12 1978 Efficiency in the Optimum Supply of Public Goods, with L.J. Lau and E. Sheshinski, Econometrica, 46(2), March 1978, pp Equality, Taxation and Inheritance, in Personal Income Distribution, W. Krelle and A.F. Shorrocks (eds.), North-Holland Publishing Company, 1978, pp (Proceedings of IEA Conference, Noordwijk aan Zee, Netherlands, April 1977.) 1979 Aggregate Land Rents, Expenditure on Public Goods and Optimal City Size, with R. Arnott, Quarterly Journal of Economics, 93(4), November 1979, pp Energy Resources and Research and Development, with P. Dasgupta and R. Gilbert, in Erschopfbare Ressourcen, Berlin: Duncker & Humbolt, pp (Presented at a conference in Mannheim, 1979.) Equilibrium in Product Markets with Imperfect Information, American Economic Review, 69(2), May 1979, pp Intergenerational Transfers and Inequality, with D. Bevan, The Greek Economic Review, 1(1), August 1979, pp Monopolistic Competition and Optimum Product Diversity: Reply, with A. Dixit, American Economic Review, 69(5), December 1979, pp A Neoclassical Analysis of the Economics of Natural Resources, in Scarcity and Growth Reconsidered, V.K. Smith (ed.), Baltimore: Johns Hopkins Press, 1979, pp Subsequently reprinted in The Economics of Exhaustible Resources, G. Heal (ed.), Brookfield, VT: Edward Elgar, 1993, pp ; and in Natural Resource Economics: A Book of Readings, C. Gopalakrishnan (ed.), University of California Press, (Originally presented at Conference of Resources for the Future, October 1976) On Search and Equilibrium Price Distributions, in Economics and Human Welfare: Essays in Honor of Tibor Scitovsky, M. Boskin (ed.), York: Academic Press Inc., 1979, pp The Theory of Commodity Price Stabilization Rules: Welfare Impacts and Supply Responses, with D. Newbery, The Economic Journal, 89(356), December 1979, pp Subsequently published in Development Economics, 4, D. Lal (ed.), Elgar, 1992, pp Industrial Structure and the Nature of Innovative Activity, with P. Dasgupta, Economic Journal, 90(358), June 1980, pp Reprinted in The Economics of Technical Change, Elgar Reference Collection, International Library of Critical Writings in Economics, 31, Edwin Mansfield and Elizabeth Mansfield (eds.), Aldershot, UK: Elgar. pp On the Impossibility of Informationally Efficient Markets, with S. Grossman, American Economic Review, 70(3), June 1980, pp Subsequently reprinted in Financial Markets and Incomplete Information - Frontiers of Modern Financial Theory, 2, S. Bhattacharya and G. Constantinides (eds.), Rowman and Littlefield, 1989, pp

13 Risk, Futures Markets and the Stabilization of Commodity Prices, in The Proceedings of the First Annual Sponsor s Conference Frontiers in Futures, Columbia University Center for the Study of Futures Markets, September Stockholder Unanimity in the Making of Production and Financial Decisions, with S. Grossman, Quarterly Journal of Economics, 94(3), May 1980, pp The Taxation of Exhaustible Resources, with P. Dasgupta and G. Heal, in Public Policy and the Tax System, G.A. Hughes and G.M. Heal (eds.), London: George Allen and Unwin, 1980, pp Uncertainty, Market Structure and the Speed of R&D, with P. Dasgupta, Bell Journal of Economics, 11(1), Spring 1980, pp Also Princeton University Econometric Research Program Research Memorandum Aggregate Land Rents and Aggregate Transport Costs, with R. Arnott, Economic Journal, 91(362), June 1981, pp Also NBER Working Paper 523. Credit Rationing in Markets with Imperfect Information, with A. Weiss, American Economic Review, 71(3), June 1981, pp Subsequently reprinted in New Keynesian Economics, 2, G. Mankiw and D. Romer (eds.), Cambridge, Mass.: MIT Press, 1991 pp Also Princeton University Econometric Research Program Research Memoranda 267 and 268. (Presented at a meeting of the Western Economic Association, June 1978), subsequently reprinted in Foundations of the Law, Barry Adler (ed.), Foundation Press, Entry, Innovation, Exit: Toward a Dynamic Theory of Oligopolistic Industrial Structure, with P. Dasgupta, European Economic Review, 15(2), Feb. 1981, pp Market Structure and Resource Extraction Under Uncertainty, with P. Dasgupta, Scandinavian Economic Journal, 83, 1981, pp Reprinted in The Impact of Rising Oil Prices on the World Economy, Mattiessen (ed.), MacMillan, 1982, pp Princeton University Econometric Research Program Research Memorandum 262. On the Almost Neutrality of Inflation: Notes on Taxation and the Welfare Costs of Inflation, in Development in an Inflationary World, M. June Flanders and Assaf Razin (eds.), New York: Academic Press, 1981, pp Also NBER Working Paper 499. Pareto Optimality and Competition, Journal of Finance, 36(2), May 1981, pp Potential Competition May Reduce Welfare, American Economic Review, 71(2), May 1981, pp (Papers and Proceedings of the AEA meetings in Denver, CO, September 1980.) Project Appraisal and Foreign Exchange Constraints, with C. Blitzer and P. Dasgupta, Economic Journal, 91(361), March 1981, pp (Presented at the Econometric Society Meeting, August 1976, Helsinki.) Resource Depletion Under Technological Uncertainty, with P. Dasgupta, Econometrica, 49(1), January 1981, pp Alternative Theories of Wage Determination and Unemployment: The Efficiency Wage Model, in The Theory and Experience of Economic Development: Essays in Honor of Sir Arthur W. Lewis, M. Gersovitz, et al. (eds.), London: George Allen & Unwin, 1982, pp

14 The Choice of Techniques and the Optimality of Market Equilibrium with Rational Expectations, with D. Newbery, Journal of Political Economy, 90(2), April 1982, pp (Also Princeton University Econometric Research Program Research Memorandum 277.) The Inefficiency of the Stock Market Equilibrium, Review of Economic Studies, 49(2), April 1982, pp Also Princeton University Econometric Research Program Research Memorandum 256, November (Paper presented at a Conference on Uncertainty and Insurance in Economic Theory in Honor of Karl Borch, Bergen, April 1979) Information and Capital Markets, in Financial Economics: Essays in Honor of Paul Cootner, William F. Sharpe and Cathryn Cootner (eds.), Prentice Hall, New Jersey, 1982, pp Also NBER Working Paper 678. Invention and Innovation Under Alternative Market Structures: The Case of Natural Resources, with R. Gilbert and P. Dasgupta, Review of Economic Studies, 49(4), 1982, pp Also Princeton University Econometric Research Program Research Memorandum 263. Market Structure and Resource Depletion: A Contribution of the Theory of Intertemporal Monopolistic Competition, with P. Dasgupta, Journal of Economic Theory, 28(1), October 1982, pp Previously Princeton University Econometric Research Program Research Memorandum 261, March A Model of Employment Outcomes Illustrating the Effect of the Structure of Information on the Level and Distribution of Income, with M. Rothschild, Economic Letters, 10, 1982, pp On the Impossibility of Informationally Efficient Markets: Reply, with S. Grossman, American Economic Review, 72(4), September 1982, p Optimal Commodity Stock-Piling Rules, with D. Newbery, Oxford Economic Papers, November 1982, pp Ownership, Control and Efficient Markets: Some Paradoxes in the Theory of Capital Markets, in Economic Regulation: Essays in Honor of James R. Nelson, Kenneth D. Boyer and William G. Shepherd (eds.), Michigan State University Press, 1982, pp The Rate of Discount for Cost-Benefit Analysis and the Theory of the Second Best, in Discounting for Time and Risk in Energy Policy, R. Lind (ed.), Resources for the Future, 1982, pp Risk Aversion, Supply Response, and the Optimality of Random Prices: A Diagrammatic Analysis, with D. Newbery, Quarterly Journal of Economics, 97(1), February 1982, pp Also Princeton University Econometric Research Program Research Memorandum 276. Self-Selection and Pareto Efficient Taxation, Journal of Public Economics, 17, 1982, pp Also NBER Working Paper 632. Sharecropping and the Interlinking of Agrarian Markets, with A. Braverman, American Economic Review, 72(4), September 1982, pp Also Princeton University Econometric Research Program Research Memorandum 299. The Structure of Labor Markets and Shadow Prices in L.D.C. s, in Migration and the Labor Market in Developing Countries, R. Sabot (ed.), Boulder, CO: Westview, 1982, pp (Presented at World Bank Conference, February 1976.) 14

15 The Theory of Sales: A Simple Model of Equilibrium Price Dispersion with Identical Agents, with S. Salop, American Economic Review, 72(5), December 1982, pp Also Princeton University Econometric Research Program Research Memorandum 283. Utilitarianism and Horizontal Equity: The Case for Random Taxation, Journal of Public Economics, 18, 1982, pp Also NBER Working Paper Alternate Approaches to the Analysis of Markets with Asymmetric Information, with A. Weiss, American Economic Review, 73(1), March 1983, pp Futures Markets and Risk: A General Equilibrium Approach, in Futures Markets, Modeling, Managing and Monitoring Futures Trading, Manfred Streit (ed.), Basil Blackwell Publishers, October 1983, pp (Paper presented at a conference at the European Institute, Florence, March 1982.) Subsequently revised as Futures Markets and Risk: A General Equilibrium Approach, Princeton University Financial Research Center Memorandum 47, April Implicit Contracts and Fixed Price Equilibria, with C. Azariadis, Quarterly Journal of Economics Supplement, 98, 1983, pp Subsequently reprinted in New Keynesian Economics, 2, N.G. Mankiw and D. Romer (eds.), MIT Press, 1991, pp Incentive Effects of Termination: Applications to the Credit and Labor Markets, with A. Weiss, American Economic Review, 73(5), December 1983, pp Information, Competition and Markets, with B. Nalebuff, American Economic Review, 73(2), May 1983, pp Money, Credit Constraints and Economic Activity, with A. Blinder, American Economic Review, 73(2), May 1983, pp On the Relevance or Irrelevance of Public Financial Policy: Indexation, Price Rigidities and Optimal Monetary Policy, in Inflation, Debt and Indexation, R. Dornbusch and M. Simonsen (eds.), MIT Press, 1983, pp (Presented at a Conference at Rio de Janeiro, December 1981.) On the Theory of Social Insurance: Comments on The State and the Demand for Security in Contemporary Societies by Raymond Barre, The Geneva Papers, 8(27), Sixth Annual Lecture of the Geneva Association, April 1983, pp Preemption, Leapfrogging and Competition in Patent Races, with D. Fudenberg, R. Gilbert and J. Tirole, European Economic Review, 22, June 1983, pp Prizes and Incentives: Toward a General Theory of Compensation and Competition, with B. Nalebuff, Bell Journal, 14(1), Spring 1983, pp Also Princeton University Econometric Research Program Research Memorandum 293. Public Goods in Open Economies with Heterogeneous Individuals, in Locational Analysis of Public Facilities, J.F. Thisse and H.G. Zoller (eds.), Amsterdam: North-Holland, 1983, pp Review of Samuelson and Neoclassical Economics by G.R. Feiwel, Journal of Economic Literature, 21(3), September 1983, pp Risk, Incentives and Insurance: The Pure Theory of Moral Hazard, Geneva Papers, 8(26), January 1983, pp Also Princeton University Financial Research Center Memorandum 42. (Fifth Annual Geneva Lecture delivered at Zurich, March 1981.) 15

16 Some Aspects of the Taxation of Capital Gains, Journal of Public Economics, 21, July 1983, pp Strategic Considerations in Invention and Innovation: The Case of Natural Resources, with P. Dasgupta and R. Gilbert, Econometrica, 51(5), September 1983, pp Subsequently reprinted in Economic Organizations as Games, K. Binmore and P. Dasgupta (eds.), New York: Basil Blackwell, 1986, pp The Theory of Local Public Goods Twenty-Five Years After Tiebout: A Perspective, in Local Provision of Public Services: The Tiebout Model After Twenty-Five Years, G.R. Zodrow (ed.), New York: Academic Press, 1983, pp Toward a Reconstruction of Keynesian Economics: Expectations and Constrained Equilibria, with P. Neary, Quarterly Journal of Economics, 98, Supplement, 1983, pp Reprinted in The Keynesian Heritage Volumes I, G.K. Shaw (ed.), in a series: Schools of Thought in Economics, Mark Blaug (ed.), Edward Elgar Publishing Ltd. Also NBER Working Paper 376. (Presented at the Athens meeting of the Econometric Society, September 1979.) 1984 Budget Policy and Processes: Where Do We Go From Here?, with M. Boskin, W. Niskanen, and R. Penner, Contemporary Policy Issues, Fall, , pp (Panel discussion at the meetings of the Western Economic Association, July 1984.) The Economics of Price Scissors, with R. Sah, American Economic Review, 74(1), March 1984, pp Equilibrium Unemployment as a Worker Discipline Device, with Carl Shapiro, American Economic Review, 74(3), June 1984, pp Subsequently reprinted in New Keynesian Economics, 2, N.G. Mankiw and D. Romer (eds.), MIT Press, 1991, pp Also in Macroeconomics and Imperfect Competition, Jean-Pascal Bénassy (ed.), Edward Elgar Publisihing, 1995, pp Information Externalities in Oil and Gas Leasing, with J. Leitzinger, Contemporary Economic Policy Issues, 5, March 1984, pp (Paper presented at the Western Economic Association Meetings, July 1983.) Information, Screening and Welfare, in Bayesian Models in Economic Theory, Marcel Boyer and Richard Khilstrom (eds.), Elsevier Science Publications, 1984, pp Informational Imperfections in the Capital Markets and Macroeconomic Fluctuations, with A. Weiss and B. Greenwald, American Economic Review, 74(2), May 1984, pp The New Public Finance: A Perspective (in Spanish), Hacienda Publica Espanola, 91, 1984, pp A Nonconcavity in the Value of Information, with R. Radner, in Bayesian Models in Economic Theory, Marcel Boyer and Richard Khilstrom (eds.), Elsevier Science Publications, 1984, pp Pareto Inferior Trade, with D. Newbery, Review of Economic Studies, 51(1), January 1984, pp Price Rigidities and Market Structure, American Economic Review, 74(2), May 1984, pp Subsequently reprinted in New Keynesian Economics, 2, N.G. Mankiw and D. Romer (eds.), MIT Press, 1991, pp Also in Macroeconomics and Imperfect Competition, Jean-Pascal Bénassy (ed.), Edward Elgar Publisihing, 1995, pp

17 1985 Can Unemployment be Involuntary? Reply, with C. Shapiro, American Economic Review, 75(5), December 1985, pp The Consumption Expenditure Tax, in The Promise of Tax Reform, J. Pechman (ed.), Englewood Cliffs: Prentice-Hall, 1985, pp Credit Markets and the Control of Capital, Journal of Money, Banking, and Credit, 17(2), May 1985, pp Subsequently reprinted in La Theoria del Mercata Finanziari, G. Viciago and G.Verga (eds.), Bologna: Societa Editrice il Mulino, Economics of Information and the Theory of Economic Development, Revista De Econometria, 5(1), April 1985, pp Equilibrium Unemployment as a Worker Discipline Device: Reply, with C. Shapiro, American Economic Review, 75(4), September 1985, pp Equilibrium Wage Distributions, Economic Journal, 95(379), September 1985, pp The General Theory of Tax Avoidance, National Tax Journal, 38(3), September 1985, pp Also NBER Reprint No Human Fallibility and Economic Organization, with R. Sah, American Economic Review, 75(2), May 1985, pp Information and Economic Analysis: A Perspective, Economic Journal, 95, Supplement: Conference Papers, 1985, pp Labor Turnover, Wage Structure & Moral Hazard: The Inefficiency of Competitive Markets, with R. Arnott, Journal of Labor Economics, 3(4), October 1985, pp The Social Cost of Labor, and Project Evaluation: A General Approach, with R. Sah, Journal of Public Economics, 28, 1985, pp Economic Growth Center Discussion Paper No. 470, Yale University, March The Architecture of Economic Systems: Hierarchies and Polyarchies, with R. Sah, American Economic Review, 76(4), September 1986, pp Also a shortened version in AEA Papers and Proceedings, also published in Personnel Economics, Edward P. Lasear and Robert NcNabb (eds.) Comments on Tax Asymmetries and Corporate Tax Reform by Saman Majd and Stewart C. Myers, in The Effects of Taxation on Capital Formation, M. Feldstein (ed.), NBER, 1986, pp Cost Sharing Arrangement Under Sharecropping: Moral Hazard, Incentive Flexibility and Risk, with A. Braverman, Journal of Agricultural Economics, 68(3), August 1986, pp (Revised version of Moral Hazard, Incentive Flexibility & Risk: Cost Sharing Arrangements under Sharecropping, with A. Braveman, Economic Research Program, Research Memorandum 298, Princeton, 1988.) 17

18 Credit Rationing and Collateral, with A. Weiss, in Recent Developments in Corporate Finance, Jeremy Edwards, et al. (eds.), New York: Cambridge University Press, 1986, pp Also a Bell Communications Research Discussion Paper. The Economics of Price Scissors: Reply, with R. Sah, American Economic Review, 76(5), December 1986, pp Published version of The Economics of Town-versus-Country Problems, Yale Economic Growth Center Paper 508. Externalities in Economies with Imperfect Information and Incomplete Markets, with B. Greenwald, Quarterly Journal of Economics, May 1986, pp Reprinted in Economic Theory and the Welfare State, Nicholas Barr (ed.), Cheltenham, UK: Edward Elgar, Originally entitled Pecuniary and Market Mediated Externalities: Toward a General Theory of the Welfare Economics of Economies with Imperfect Information and Incomplete Markets, NBER Working Paper Hemmis Hohe Lohne, Wirtschafts Woche, 43(17), Oktober 1986, pp Introduction to Proceedings of the International Economic Association Roundtable Conference on New Developments in the Theory of Market Structure, in New Developments in the Theory of Market Structure, J.E. Stiglitz and F. Mathewson (eds.), MacMillan, (Conference held in Ottawa, Canada, May 10, 1982.) Landlords, Tenants and Technological Innovations, with A. Braverman, in Journal of Development Economics, 23(2), October 1986, pp Moral Hazard and Optimal Commodity Taxation, with R. Arnott, Journal of Public Economics, 29, 1986, pp The New Development Economics, World Development, 14(2), 1986, pp Subsequently reprinted in The Political Economy of Development and Underdevelopment, C.K. Wilber (ed.), New York: Random House, 1988, pp Pure Theory of Country Risk, with J. Eaton and M. Gersovitz, European Economic Review, 30(3), June 1986, pp Reprinted in Development Economics, 4, D. Lal (ed.), Elgar, 1992, pp Also NBER Working Paper No. 1864, April 1986 and NBER Reprint 793. Theories of Wage Rigidities, in Keynes Economic Legacy: Contemporary Economic Theories, J.L. Butkiewicz, et al. (eds.), New York: Praeger Publishers, 1986, pp (Presented at a conference on Keynes Economic Legacy, University of Delaware, December 1983.) Theory of Competition, Incentives and Risk, in New Developments in the Theory of Market Structure, J.E. Stiglitz and F. Mathewson (eds.), MacMillan/MIT Press, 1986, pp Also Princeton University Econometric Research Program Research Memorandum 311. Toward a More General Theory of Monopolistic Competition, in Prices, Competition, & Equilibrium, M. Peston and R. Quandt (eds.), Oxford: Philip Allan/Barnes & Noble Books, 1986, pp Also Princeton University Econometric Research Program Research Memorandum The Causes and Consequences of the Dependence of Quality on Prices, Journal of Economic Literature, 25, March 1987, pp Subsequently reprinted in Impresa, Instituzione e Informazione, M. Franzini and M. Messori (eds.), Bologna: Cooperative Libraria Universitaria,

19 Competition and the Number of Firms in a Market: Are Duopolies More Competitive Than Atomistic Markets? Journal of Political Economy, 95(5), 1987, pp (Revised version of Duopolies are More Competitive than Atomistic Markets, Princeton University Econometric Research Program Research Memorandum 310, February 1984.) Credit Rationing: Reply, with A. Weiss, American Economic Review, 77(1), March 1987, pp Design of Labor Contracts: Economics of Incentives and Risk-Sharing, in Incentives, Cooperation and Risk Sharing, H. Nalbantian (ed.), Totowa, NJ: Rowman & Allanheld, 1987, pp Pareto Efficient and Optimal Taxation and the New New Welfare Economics, in Handbook of Public Economics, 2, A. Auerbach and M. Feldstein (eds.), Amsterdam: North Holland, 1987, pp Human Nature and Economic Organization, Jacob Marashak Lecture, presented at Far Eastern Meetings of the Econometric Society, October Imperfect Information, Credit Markets and Unemployment, with B. Greenwald, European Economic Review, 31, 1987, pp Information and Regulation, with D. Sappington, in Public Regulation, E. Bailey (ed.), London: MIT Press, 1987, pp Information, Welfare and Product Diversity, with S. Salop, in Arrow and the Foundations of the Theory of Economic Policy, G. Feiwel (ed.), London: MacMillan, 1987, pp (Revised version of a paper presented to a conference on imperfect information at Bell Labs, February 1978.) The Invariance of Market Innovation to the Number of Firms, with R. Sah, Rand Journal of Economics, 18(1), Spring 1987, pp Keynesian, New Keynesian and New Classical Economics, with B. Greenwald, Oxford Economic Papers, 39, March 1987, pp Subsequently reprinted in Price, Quantities, and Expectations, P.J.N. Sinclair (ed.), Oxford University Press, 1987, pp ; in the French translation of Collected Papers on the Current State of Keynesian Theory, R. Arena and D. Torre (eds.), Les Presses Universitaires de France; in the French translation of Origins and Prospects of Keynesianism: Some New Developments, R. Arena and D. Torre (eds.); and in Keynes et les nouveaux Keynesiens, R. Arena and D. Torre (eds.), Paris: Les Presses Universitaires de France, 1992, pp Learning to Learn, Localized Learning and Technological Progress, in Economic Policy and Technological Performance, P. Dasgupta and Stoneman (eds.), Cambridge University Press, 1987, pp On the Microeconomics of Technical Progress, in Technology Generation in Latin American Manufacturing Industries, Jorge M. Katz (ed.), Macmillan Press Ltd. 1987, pp (Presented to IDB-Cepal Meetings, Buenos Aires, November 1978.) Pareto Efficient and Optimal Taxation and the New New Welfare Economics, in Handbook on Public Economics, A. Auerbach and M. Feldstein (eds.), North Holland: Elsevier Science Publishers, 1987, pp Also NBER Working Paper Price Scissors and the Structure of the Economy, with R. Sah, Quarterly Journal of Economics, 102, 1987, pp

20 Privatization, Information and Incentives, with D. Sappington, Journal of Policy Analysis and Management, 6(4), 1987, pp Reprinted in The Political Economy of Privatization and Deregulation, E. Baily and J. Hower (eds.), Edward Elgar, NBER Working Paper No and Reprint No Safety, User Fees, and Public Infrastructure, with R. Arnott, in Transportation Deregulation and Safety, Conference Proceedings, The Transportation Center, Northwestern University, June 1987, pp Sharecropping, in The New Palgrave: A Dictionary of Economics, MacMillan Press, Subsequently reprinted in The New Palgrave: Economic Development, J. Eatwell, et al. (eds.), Macmillan, 1989, pp Some Theoretical Aspects of Agriculture Policies, World Bank Research Observer, 2(1), January 1987, pp Reprinted as Algunos Aspectos Teoricos de la Polutica Agraria, Revista de Analisis del Norte Alternativa, June 1989, pp Tax Reform: Theory and Practice, in The Economics of Tax Reform, Kalamazoo, MI: Upjohn Institute, Taxation and Pricing of Agricultural and Industrial Goods in Developing Economies, with R. Sah, in The Tax Theory for Developing Countries, D. Newbery and N. Stern (eds.), Oxford: Oxford University Press, 1987, pp Technological Change, Sunk Costs, and Competition, Brookings Papers on Economic Activity, 3, Also in special issue of Microeconomics, M.N. Baily and C. Winston (eds.), 1988, pp Wage Rigidity, Implicit Contracts, Unemployment and Economic Efficiency, with D. Newbery, Economic Journal, 97(386), June 1987, pp The Basic Analytics of Moral Hazard, with R. Arnott, Scandinavian Journal of Economics, 90(3), 1988, pp Also NBER Working Paper Comments on Symposium on Monetary Theory, with A. Stockman and M. Woodford, in Symposium on Monetary Theory (Proceedings of Taipei), Institute of Economics, Acadamia Sinica, 1988, pp Committees, Hierarchies and Polyarchies, with R. Sah, The Economic Journal, 98(391), June 1988, pp Computerized Tax Collecting, Chapter 20 in Tax Policy in the Twenty-First Century, Herbert Stein (ed.), John Wiley and Sons, 1988, pp (Originally presented at the Conference on Tax Policy in the Twenty First Century, Washington DC, 1987, as Technical Change and Taxation. ) Economic Organization, Information, and Development, in Handbook of Development Economics, H. Chenery and T.N. Srinivasan (eds.), Elsevier Science Publishers, 1988, pp Examining Alternative Macroeconomic Theories, with B. Greenwald, Brookings Papers on Economic Activity, 1, 1988, pp Subsequently reprinted in Recent Developments in Macroeconomics, Edmund Phelps (ed.), Edward Elgar, 1991, pp